In a game-changing development for the Philippine crypto landscape, Bitget, a global leader in cryptocurrency exchange and Web3 innovation, has recently announced the transfer of 440 million BGB tokens — its native utility token — to the Morph Foundation.
The move marks a significant leap forward in transforming BGB into a core asset for next-generation onchain payments and governance.
This strategic partnership between Bitget and Morph, an emerging Layer 2 blockchain built for payments and consumer finance, sets the stage for BGB to become the gas and governance token of the Morph chain, expanding its utility far beyond its current use cases.
Bitget and Morph: A turning point for BGB
Under this agreement, Bitget will burn half of the 440 million BGB tokens — an unprecedented one-time action aimed at reducing supply and boosting value. The remaining 220 million tokens will be locked and released gradually at 2% per month. These tokens will fund liquidity incentives, drive user adoption, and support education around decentralized payments and finance.
Gracy Chen, CEO of Bitget
With this transition, Morph will officially become the onchain home of BGB, positioning the token at the heart of a growing ecosystem aimed at serving more than 120 million users globally.
“With this commitment to the Morph Foundation, BGB is entering a new chapter,” said Gracy Chen, CEO of Bitget. “This upgrade expands BGB into the utility token for the next era of onchain consumer finance, powering payments, applications, and the broader settlement layer for millions of users worldwide.”
Morph: Powering the future of onchain payments
Colin Goltra, CEO of Morph
Morph is making waves as a high-performance EVM-compatible Layer 2 designed specifically for crypto payments and real-world financial applications. It’s building what it calls the next-generation Web3 payment infrastructure — not just with fast transactions and low fees, but with deep integrations across wallets, stablecoins, DeFi, and traditional finance partners.
Despite the new collaboration, Morph will retain its independent brand, team, and strategic focus. It aims to serve as a robust settlement layer for developers and users alike, building on its mission to bridge crypto with everyday finance.
“Morph has always had a close relationship with Bitget since its founding,” said Colin Goltra, CEO of Morph. “Through this initiative, we’re excited for Morph to become the onchain home of Bitget’s ecosystem and support millions of BGB holders worldwide.”
Impact on the Philippine and Southeast Asian crypto ecosystem
This move is especially significant for the Philippines and the broader Southeast Asian market, where crypto adoption continues to grow rapidly. Bitget, already active in the region, is doubling down on its presence by bringing real use cases to decentralized finance (DeFi) and payments.
With Filipino developers and consumers increasingly looking for blockchain applications that go beyond trading, the collaboration offers a foundation for building real-world use cases, from digital payments to decentralized finance tools.
“BGB has found its home onchain with Morph,” added Karry Cheung, CEO of Bitget Wallet. “Over the next 12 months, we will see an acceleration of BGB migration onto the Morph layer and deeper partnerships to enable seamless Web3 payments and onchain consumer finance.”
Building a global payment ecosystem
To further fuel this momentum, Bitget and Bitget Wallet are integrating their full infrastructure into Morph — supporting everything from trading and staking to merchant services and global remittances. The initiative includes native support for stablecoin issuers, regional currencies, and major payment providers, giving developers the tools they need to build scalable applications.
At the heart of this effort is Morph Rails, a development framework that will fund hackathons, launch builder programs, and offer direct support for promising projects. Developers building on Morph will also gain access to Bitget’s user base of 120 million+, offering unmatched exposure.
A new chapter for BGB
The Morph Foundation, now tasked with managing BGB’s long-term roadmap, plans to introduce a new token burn mechanism tied directly to Morph network activity. Over time, the circulating supply of BGB will be reduced to 100 million, adding deflationary pressure and long-term value to holders.
As the Philippine crypto community watches closely, this landmark move highlights Bitget’s commitment to real-world utility, financial inclusion, and ecosystem growth — pushing the boundaries of what’s possible in the Web3 era.
